Real estate businesses are actively racing to resolve bond debt in hopes of unlocking new opportunities. Many bondholders who experienced payment delays between 2022 and 2024 have chosen to restructure their debt rather than seize collateral. Early repayment In late December, Hoang Anh Gia Lai JSC (HOSE: HAG) grabbed attention with a series of announcements about repaying the principal and interest on its HAGLBOND16.26 bond. The company paid VND1,043 billion, reducing the outstanding principal to VND753 billion. This significant repayment was funded by Hoang Anh Gia Lai Agricultural JSC (UPCoM: HNG). HNG reported completing a VND4,228 billion payment under a tripartite agreement with BIDV and HAG, allocating VND2,314 billion toward the bond repayment. HNG, previously part of HAG’s portfolio, was acquired by Thaco Group through a strategic partnership established in 2018. HAG expects to clear the remaining principal in the second quarter of 2025, citing “difficulties in liquidating non-performing assets” as the cause of the delay. At the company’s shareholder meeting last year, HAG’s chairman, Doan Nguyen Duc, expressed confidence that all bond obligations to BIDV would be fully settled by 2026. As of September 2024, HAG still owed VND7,300 billion out of VND13,500 billion in total payables. Following its […]
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